Focused Wealth Management Inc grew its stake in shares of Altria Group Inc (NYSE:MO) by 17.6% in the third quarter, Holdings Channel.com reports. The fund owned 5,136 shares of the company’s stock after purchasing an additional 767 shares during the period. Focused Wealth Management Inc’s holdings in Altria Group were worth $210,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Julex Capital Management LLC acquired a new position in shares of Altria Group during the 3rd quarter worth approximately $25,000. Vigilant Capital Management LLC raised its position in shares of Altria Group by 140.3% during the 3rd quarter. Vigilant Capital Management LLC now owns 704 shares of the company’s stock worth $29,000 after purchasing an additional 411 shares during the last quarter. KCS Wealth Advisory acquired a new position in shares of Altria Group during the 3rd quarter worth approximately $40,000. HMS Capital Management LLC acquired a new position in shares of Altria Group during the 2nd quarter worth approximately $41,000. Finally, Salomon & Ludwin LLC raised its position in shares of Altria Group by 189.0% during the 2nd quarter. Salomon & Ludwin LLC now owns 867 shares of the company’s stock worth $41,000 after purchasing an additional 567 shares during the last quarter. Institutional investors own 63.26% of the company’s stock.
Several brokerages recently issued reports on MO. ValuEngine downgraded Altria Group from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Argus set a $60.00 price objective on Altria Group and gave the stock a “buy” rating in a research report on Thursday, October 10th. TheStreet downgraded Altria Group from a “b-” rating to a “c+” rating in a research report on Wednesday, August 14th. Bank of America set a $54.00 price objective on Altria Group and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus restated a “buy” rating on shares of Altria Group in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $54.35.
MO stock traded up $0.59 during midday trading on Tuesday, hitting $47.00. The stock had a trading volume of 6,121,589 shares, compared to its average volume of 10,278,860. The firm has a market cap of $86.70 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 1.72 and a beta of 0.41. The company has a debt-to-equity ratio of 2.53, a current ratio of 0.56 and a quick ratio of 0.27. Altria Group Inc has a 12-month low of $39.30 and a 12-month high of $61.49. The company’s 50-day moving average price is $43.64 and its 200 day moving average price is $47.44.
Altria Group (NYSE:MO) last released its earnings results on Thursday, October 31st. The company reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.04. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Altria Group had a net margin of 7.00% and a return on equity of 56.17%. Altria Group’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.08 EPS. As a group, sell-side analysts anticipate that Altria Group Inc will post 4.21 EPS for the current year.
Altria Group announced that its board has approved a stock buyback program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 1.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
About Altria Group
Altria Group, Inc, through its subsidiaries, manufactures and sells cigarettes, smokeless products, and wine in the United States. It offers cigarettes primarily under the Marlboro brand; cigars principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands.
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